In a constantly evolving world, new devices and technologies are incorporating. Organizations should follow the technological changes of the rest of the world if they want to keep up. Standards that were valid few years ago are no longer valid. In this new age knowledge has surpassed other traditional factors, such land, labor and capital. This paper approaches the historical evolution of knowledge, as well as the reasons that have made it an influential factor for organizations wishing to survive, using the tourist industry by way of an example. Furthermore, this paper explores how knowledge management can become a useful tool in the process of leveraging a tourist organization. Knowledge Management is a relatively new concept. Nevertheless, it has become a very popular term, which is increasingly used nowadays. Knowledge management focuses on organizational change under specialized guidance. The paper aims to analyze contemporary literature review in order to enhance the apprehension of how knowledge can become a useful tool not only to overcome crisis but also to contribute to the creation of new ideas and innovations. The paper seems to agree with Mantas (2016)’s view that knowledge management can become a tool to overcome the crisis and also to create innovative ideas which will contribute to the further development of tourism. The research outcome indicates that Organizations will be strongly benefited by such an approach.